Press Release
Illinois Tool Works Inc. Announces Management Changes
Glenview, IL – December 5, 2008
Illinois Tool Works Inc. (NYSE:ITW) today announced that its Board of Directors has elected E. Scott Santi a vice chairman of ITW, overseeing the Food Equipment and Power Systems & Electronics segments. Additionally, Steven Martindale has been elected executive vice president, Test and Measurement.
Santi, 47, previously held the position of executive vice president of Power Systems & Electronics and has served in a variety of roles in sales, marketing and management since joining ITW in 1983. Santi graduated from the University of Illinois in 1983 with a B.S. degree in Accounting, and received a Masters of Management degree from The Kellogg School of Business, Northwestern University in 1992. He is now one of two vice chairmen of ITW. Tom Hansen, 59, serves as the Company's other vice chairman.
Martindale, 52, assumes the role of executive vice president after serving as group president of Test and Measurement since ITW's acquisition of Instron in 2005. He joined Instron in 2002 as chief financial officer, and later served as chief operating officer. Martindale graduated from California State University, Fullerton with B.S. degrees in Accounting and Finance. Martindale's appointment comes in light of Hugh Zentmyer's retirement from his position as executive vice president after forty years of service for ITW.
"I am pleased to see both Scott and Steve in their new roles as vice chairman and executive vice president," said ITW Chairman and CEO David Speer. "Their experience as leaders within ITW will help them continue to grow our global Welding, Food Equipment, and Test and Measurement platforms. We also thank Hugh Zentmyer for his four decades of valuable service and leadership for ITW and wish him the very best in retirement."
With $14.9 billion in revenues, ITW is a diversified and value-added manufacturer of highly engineered components and industrial systems and consumables. The Company consists of approximately 825 business units in 52 countries and employs some 60,000 people.
CONTACT: Alison Donnelly, 847-657-4565 or adonnelly@itw.com